Suppose that a marginal revenue function is given by R′(x)=500−12x. It is known that R(11)=474. What is the correct interpretation of this result? Select the correct answer below: At a production rate of 11 units per unit time, the revenue is decreasing at a rate of 474 per unit time. At a production rate of 11 units per unit time, the revenue is increasing at a rate of 474 per unit time. The total revenue generated per unit time at a production rate of 11 units is 474. None of the above.

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Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.